Latin America Silicones Market Report and Forecast 2024-2032

Latin America Silicones Market Report and Forecast 2024-2032


Market Outlook

According to the report by Expert Market Research (EMR), the Latin America silicones market attained a value of USD 262.26 million in 2023. Aided by the mounting demand from burgeoning industries like construction, automotive, and healthcare, coupled with the intrinsic merits of silicones, the market is projected to further grow at a CAGR of 3.8% between 2024 and 2032, to reach a value of USD 329.58 million by 2032.

Silicones are high-performance polymers known for their flexibility, thermal stability, and water repellency. These attributes have paved the way for their pervasive use in an array of products, including sealants, adhesives, lubricants, medical devices, cooking, baking, and electrical insulation. In essence, they are a linchpin in ensuring durability, sustainability, and efficiency across numerous applications.

One of the salient trends boosting the Latin America silicones market growth is the region's booming construction industry. With rapid urbanisation and infrastructural development, particularly in countries like Brazil, Argentina, and Colombia, there's an ascending demand for silicone sealants and adhesives. Their resilience, weather resistance, and adaptability make them an invaluable asset in construction projects, from skyscrapers to residential homes.

But the influence of silicones is not restricted to the construction realm alone. Their heat resistance and dielectric properties are immensely sought after in the automotive and electronics industries. As Latin America gravitates towards cleaner, electrically-driven modes of transport, the inherent benefits of silicones in insulation, battery protection, and overall vehicle efficiency become even more pronounced.

The Latin American cosmetics industry is yet another sphere experiencing the transformative effects of silicones. As beauty standards evolve, there's a mounting demand for products offering long-lasting effects, moisture retention, and a smooth finish. Silicones, renowned for their protective barriers and tactile elegance, are being extensively employed in creams, lotions, and hair care products, aligning with consumer demands.

As per the Latin America silicones market analysis, the healthcare sector in Latin America is undergoing rapid advancements. Silicones, with their biocompatibility and versatility, play an indispensable role in medical implants, prosthetics, and drug delivery systems. Their low toxicity and resistance to bacteria have made them a cornerstone in modern medical applications.

Parallel to these growth trajectories, there's an emerging consciousness about sustainable and environmentally-friendly practices. Latin American industries, in tandem with global trends, are vying for eco-friendly silicone products. Innovations like green silicone elastomers, which reduce carbon footprints and conserve resources, are gaining traction, thereby posing a positive impact on the Latin America silicones market outlook.

Market Segmentation

The market can be divided based on type, application, and country.

Market Breakup by Type
  • Elastomers
  • Fluids
  • Gels
  • Resins
Market Breakup by Application
  • Industrial Process
  • Construction Materials
  • Home and Personal Care
  • Transportation
  • Energy
  • Healthcare
  • Electronics
  • Others
Market Breakup by Country
  • Brazil
  • Argentina
  • Mexico
  • Others
Competitive Landscape

The EMR report looks into the market shares, plant turnarounds, capacities, investments, and mergers and acquisitions, among other major developments, of the leading companies operating in the Latin America silicones market. Some of the major players explored in the report by Expert Market Research are as follows:
  • Elkem Silicones
  • Wacker Chemie AG
  • Dow Chemical Company
  • Evonik Industries AG
  • Momentive Performance Materials Inc.
  • Siltech Corporation
  • Others
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*We at Expert Market Research always strive to provide you with the latest information. The numbers in the article are only indicative and may be different from the actual report.


1 Preface
2 Report Coverage – Key Segmentation and Scope
3 Report Description
3.1 Market Definition and Outlook
3.2 Properties and Applications
3.3 Market Analysis
3.4 Key Players
4 Key Assumptions
5 Executive Summary
5.1 Overview
5.2 Key Drivers
5.3 Key Developments
5.4 Competitive Structure
5.5 Key Industrial Trends
6 Market Snapshot
7 Opportunities and Challenges in the Market
8 Global Silicones Market Overview
8.1 Key Industry Highlights
8.2 Global Silicones Historical Market (2018-2023)
8.3 Global Silicones Market Forecast (2020-2025)
8.4 Global Silicones Market by Region
8.4.1 North America
8.4.2 Europe
8.4.3 Asia Pacific
8.4.4 Latin America
8.4.5 Middle East and Africa
9 Latin America Silicones Market Analysis
9.1 Key Industry Highlights
9.2 Latin America Silicones Historical Market (2018-2023)
9.3 Latin America Silicones Market Forecast (2020-2025)
9.4 Latin America Silicones Market by Type
9.4.1 Elastomers
9.4.1.1 Historical Trend (2018-2023)
9.4.1.2 Forecast Trend (2020-2025)
9.4.2 Fluids
9.4.2.1 Historical Trend (2018-2023)
9.4.2.2 Forecast Trend (2020-2025)
9.4.3 Gels
9.4.3.1 Historical Trend (2018-2023)
9.4.3.2 Forecast Trend (2020-2025)
9.4.4 Resins
9.4.4.1 Historical Trend (2018-2023)
9.4.4.2 Forecast Trend (2020-2025)
9.5 Latin America Silicones Market by Application
9.5.1 Industrial Process
9.5.1.1 Historical Trend (2018-2023)
9.5.1.2 Forecast Trend (2020-2025)
9.5.2 Construction Materials
9.5.2.1 Historical Trend (2018-2023)
9.5.2.2 Forecast Trend (2020-2025)
9.5.3 Home and Personal Care
9.5.3.1 Historical Trend (2018-2023)
9.5.3.2 Forecast Trend (2020-2025)
9.5.4 Transportation
9.5.4.1 Historical Trend (2018-2023)
9.5.4.2 Forecast Trend (2020-2025)
9.5.5 Energy
9.5.5.1 Historical Trend (2018-2023)
9.5.5.2 Forecast Trend (2020-2025)
9.5.6 Healthcare
9.5.6.1 Historical Trend (2018-2023)
9.5.6.2 Forecast Trend (2020-2025)
9.5.7 Electronics
9.5.7.1 Historical Trend (2018-2023)
9.5.7.2 Forecast Trend (2020-2025)
9.5.8 Others
9.6 Latin America Silicones Market by Country
9.6.1 Brazil
9.6.2 Argentina
9.6.3 Mexico
9.6.4 Others
10 Regional Analysis
10.1 Brazil
10.1.1 Historical Trend (2018-2023)
10.1.2 Forecast Trend (2020-2025)
10.2 Argentina
10.2.1 Historical Trend (2018-2023)
10.2.2 Forecast Trend (2020-2025)
10.3 Mexico
10.3.1 Historical Trend (2018-2023)
10.3.2 Forecast Trend (2020-2025)
11 Market Dynamics
11.1 SWOT Analysis
11.1.1 Strengths
11.1.2 Weaknesses
11.1.3 Opportunities
11.1.4 Threats
11.2 Porter’s Five Forces Analysis
11.2.1 Supplier’s Power
11.2.2 Buyers Power
11.2.3 Threat of New Entrants
11.2.4 Degree of Rivalry
11.2.5 Threat of Substitutes
11.3 Key Indicators for Demand
11.4 Key Indicators for Price
12 Value Chain Analysis
13 Trade Data Analysis (HS Code - 3910)
13.1 Major Importing Countries
13.1.1 By Volume
13.1.2 By Value
13.2 Major Exporting Countries
13.2.1 By Volume
13.2.2 By Value
14 Price Analysis
15 Competitive Landscape
15.1 Market Structure
15.2 Company Profiles
15.2.1 Elkem Silicones
15.2.1.1 Company Overview
15.2.1.2 Product Portfolio
15.2.1.3 Demographic Reach and Achievements
15.2.1.4 Financial Summary
15.2.1.5 Certifications
15.2.2 Wacker Chemie AG
15.2.2.1 Company Overview
15.2.2.2 Product Portfolio
15.2.2.3 Demographic Reach and Achievements
15.2.2.4 Financial Summary
15.2.2.5 Certifications
15.2.3 Dow Chemical Company
15.2.3.1 Company Overview
15.2.3.2 Product Portfolio
15.2.3.3 Demographic Reach and Achievements
15.2.3.4 Financial Summary
15.2.3.5 Certifications
15.2.4 Evonik Industries AG
15.2.4.1 Company Overview
15.2.4.2 Product Portfolio
15.2.4.3 Demographic Reach and Achievements
15.2.4.4 Financial Summary
15.2.4.5 Certifications
15.2.5 Momentive Performance Materials Inc.
15.2.5.1 Company Overview
15.2.5.2 Product Portfolio
15.2.5.3 Demographic Reach and Achievements
15.2.5.4 Financial Summary
15.2.5.5 Certifications
15.2.6 Siltech Corporation
15.2.6.1 Company Overview
15.2.6.2 Product Portfolio
15.2.6.3 Demographic Reach and Achievements
15.2.6.4 Financial Summary
15.2.6.5 Certifications
15.2.7 Others
19 Key Trends and Developments in the Market
List of Key Figures and Tables
1. Global Silicones Market: Key Industry Highlights, 2018 and 2032
2. Latin America Silicones Market: Key Industry Highlights, 2018 and 2028
3. Latin America Silicones Historical Market: Breakup by Type (USD Million), 2018-2023
4. Latin America Silicones Market Forecast: Breakup by Type (USD Million), 2024-2032
5. Latin America Silicones Historical Market: Breakup by Application (USD Million), 2018-2023
6. Latin America Silicones Market Forecast: Breakup by Application (USD Million), 2024-2032
7. Latin America Silicones Historical Market: Breakup by Segment (USD Million), 2018-2023
8. Latin America Silicones Market Forecast: Breakup by Segment (USD Million), 2024-2032
9. Latin America Silicones Historical Market: Breakup by Country (USD Million), 2018-2023
10. Latin America Silicones Market Forecast: Breakup by Country (USD Million), 2024-2032
11. Major Importing Countries by Volume (2022)
12. Major Exporting Countries by Volume (2022)
13. Major Importing Countries by Value (2022)
14. Major Exporting Countries by Value (2022)
15. Latin America Silicones Market Structure

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